HP Earnings:Hewlett-Packard Sales Down
HP Earnings:Hewlett-Packard Sales Down – H-P earnings were revealed today and announced that the fiscal first-quarter profit fell 13% from a year ago.Here is the full report:
HPQ 34.08, -0.26, -0.8%) shares fell 3.7% in late trading after the company gave a forecast that fell below Wall Street’s expectations. During the regular market session, H-P’s shares fell 26 cents to close at $34.08.
H-P said it earned $1.9 billion, or 75 cents a share, compared with a profit of $2.1 billion, or 80 cents a share, during the same period a year ago. Revenue rose 1% to $28.8 billion from $28.5 billion in the prior-year’s first quarter.
Excluding one-time items, H-P said it would have earned $2.3 billion, or 93 cents a share. By that measure, analysts surveyed by Thomson Reuters had forecast H-P to earn 93 cents a share on $31.9 billion in sales.